Being good at skiing may not mean you will be excellent at snowboarding on the first try, but it does provide you with an understanding of winter sports which you can then grow upon.

This week on InvestED we are diving into Charlie Munger’s first principle of finding great companies. We will explain what it means to be capable of understanding the business and the level of understanding that is ultimately recommended before investing in a company. For show notes and more information visit www.investedpodcast.comLearn more about your ad choices. Visit megaphone.fm/adchoices